Brenda sees a television advertised around $500. when she finally buys one for $450, she feels she got a good deal. in this case, the $500 price acted as an anchor.
A cognitive bias known as the anchoring effect describes a common human tendency to excessively rely on the initial piece of information proposed when making a decision.
 Anchoring occurs when people base subsequent judgments on an earlier piece of information during decision-making. Once an anchor is established, subsequent decisions are made by moving away from it, and there is a bias toward framing subsequent data in relation to the anchor.
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Answer:
Compound Interest works in a continuous pattern.
The formula is x = 100*(1.09)^y
x = the amount received after interest.
y = the number of years
x = 100*(1.09)^9
x = $217.19
It would take 9 years for the initial deposit to reach $200
 
        
             
        
        
        
Answer:
$150,000 and $214,800
Explanation:
 The computation is shown below:
Gain on disposal = Fair value of the land - cost of the land 
= $870,000 - $720,000
= $150,000
Now the restructuring gain is 
= Loan amount + accrued interest - fair value of the land 
= $960,000 + $124,800 - $870,000
= $214,800
We simply applied the above formulas so that the gain on disposal and restructuring gain could come
 
        
             
        
        
        
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